Zimbabwe and Zambia have said the multi-billion Batoka Gorge Hydro Electric Scheme project will go a long way in reigniting local industry and providing employment for peoples of the two neighbouring countries.

The council of ministers comprising Ministers of Finance and Energy from the two countries met in Victoria Falls Friday to assess progress made so far in the project which is set to provide 2 400MW of electricity to be shared by both countries.

The whole project scope is US$4 billion to be mobilised from African Development Bank, International Monetary Fund and other financiers.

Speaking to journalists at the close of the meeting, Zambia's Energy Minister Mathew Nkhuwa who is co-chair said Batoka project is critical to the Sadc region.

"The two countries are in the process of assessing ways of empowering and equipping local industries to ensure that most of the raw materials like cement and steel which are major inputs into the construction of the project are produced locally in Zambia and Zimbabwe," he said.

He said there will be no brain drain the region as jobs will be created locally, while some ailing industries are resuscitated.

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